The Process of Predicting What Will Happen in the Future

question 15

Multiple Choice

The process of predicting what will happen in the future is called:

• A) contingency planning.
• B) scenario planning.
• C) forecasting.
• D) zero-based budgeting.

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Definitions:

Revenue Journal

A specialized accounting journal used to record the company's revenue transactions, distinguishing them from other types of financial transactions.

Accounts Payable Subsidiary Ledger

The subsidiary ledger containing the individual accounts with creditors (suppliers).

Cash Payments Journal

A business ledger that documents every cash expenditure or payment conducted by a company.

Purchases Journal

A purchases journal is a special journal used in accounting to record all purchases of merchandise, supplies, or other assets on credit.